What is a Lead Magnet?
Lead magnets, also known as opt-in incentives, have been used as a marketing tool for decades and if you spend any time online you will have seen a lot of them.
They come in many shapes and sizes ranging from the quick online quiz (‘Which Friends Character Are You?’) to free information downloads (5 Tips to Boost Your Social Media Content’) but in their essence, they provide a way for businesses to offer information to potential clients in exchange for their all-important contact information.
And once empowered with that contact information, a business can continue to nurture their relationship with the potential client in the hopes of transforming them into a loyal, paying customer.
It seems like a win-win right? The client gets something they want for free, and the business is able to secure that client’s interest in their business.
But take note – although it sounds like a simple transaction between your business and a potential client, a successful lead magnet needs a combination of marketing strategy, strong message and a solid build of trust in your message in order to succeed.
In this article, we will take you through a how-to on creating a lead magnet for your audience and how to grow your business with it.
Creating Your Lead Magnet Content
Choosing the information you will use for your lead magnet is imperative to your brand and to your success. If the content hits the reader in the right spot, they are happy to share their contact information and hear more from that business. They WANT to hear from you – and that, right there, is the key to lead magnets; potential clients sign up because they want to hear what you have to say.
So consider this – what is the major pain point for your clients? What problems are your clients trying to solve? Offering solutions that your client base can use right now is a great success tool.
Research, fact check and find little-known or myth-busting facts if you can; setting yourself up as an authority on your subject matter will make your lead magnet all the more magnetized!
Some examples: if you’re teaching online, maybe you want to read ‘8 Common Mistakes You Are Making in Your Online Classes’, or the ‘5 Tips to Being Camera-ready From Your Home Space’. Think of what will connect with your audience and if you can, try to fix a problem they are experiencing right now, so they can apply the solution right away.
Choose The Lead Magnet Format
Next, consider the format – PDF? eBook? Free online Masterclass? Ultimately your lead magnet needs to be presented in a format that is usable to your audience, so whether that is a webinar, or a PDF, or even a free class coupon – something that is familiar to them, that they can utilize easily and that will enable that swift exchange of information.
PDF and eBook are perhaps the most popular download formats – and if you have downloaded the OfferingTree Online Teaching eBook then you have used OUR lead magnet, let us know what you think of it! – but ultimately what is familiar to your audience and most usable for them is the best choice for your business.
Research, research, research.
Now that you know what a lead magnet looks like and all of the components of a successful lead magnet strategy, you will probably begin to see them everywhere you look online, and this is an awesome opportunity to learn what works. Take note of what content appeals to you, think about why it appeals to you (is it the content, the images, the download format?), compare branding and designs as well as where the lead magnets are placed. Be sure to sign up to some and check out their nurture campaigns for ideas and intel on what works as a follow-up.
Find The Perfect Platform For You
There are literally hundreds of web-based platforms offering you templates to design and promote your lead magnet, and this is where your research will come in handy. Each will have different pricing structures, different templates available and even different freebies of their own, so with your strategy in mind (how long your campaign will run for, which formats you want to use) do some due diligence to find the platform that works best for your business, is most accessible to your clients and is within your affordability range.
Many of the big email platforms also incorporate lead magnets and this may be a good starting point because your nurture campaign is probably going to stem from your email provider. Also, there are free design tools such as Canva that allow you to create your unique design for a lead magnet and share it anywhere you like.
The Fun Part – Design!
You have done the hard work of the strategy, so hopefully, now your ideas are starting to form on how you could use a lead magnet in your business. Here are the key elements to bear in mind when creating your lead magnet:
Use Compelling Content
The best lead magnets offer content that can’t be found elsewhere easily, offering something the reader wants to access means they will exchange their info with you swiftly in order to get it. Having a clear, concise message that poses you as the authority on this topic will make your Call To Action so much more effective in your lead magnet, with the aim that the user will commit to this transfer of information, almost without thinking about it.
Choose the Perfect Format
Your choice of format depends entirely on your audience, and you know them best. PDF’s have proven to have a big success rate as a simple, fast download. Offering access to an online workshop or webinar also has a good success rate. But think about what suits your business and your clientele as well as what you want them to know about you.
Don’t Reinvent the Wheel
Instead of working to create a whole new set of information for your lead magnet, look around at your existing content and see if you can repurpose any of it – this is going to save you oodles of time and input. If you hosted a workshop in the past, take one key point of that workshop and summarize it, try setting it out in an easily digestible format that showcases your depth of knowledge without giving all of your secrets away for free.
Prepare Your Nurturing Strategy
So you have a fantastically creative and beautiful lead magnet – now what? Without the right nurturing strategy for your clients, they will soon drop off your radar again. Before you launch your lead magnet have your nurturing strategy in place as a follow up. This element of creation is just as important as the actual lead magnet – you have brought the client into your store, now you need to build a rapport and trust with them and create some loyalty.
Don’t be afraid to seek professional help with the content here; if it is worth creating a lead magnet then it is worth doing perfectly; sometimes we have to defer to the higher power of marketing specialists to guide us!
So with all of these tips under your belt, it is time to start creating your lead magnet and taking your business to the next level!
Looking for a new system to help distribute your content? Look no further than OfferingTree, where we have created a simple system for wellness and fitness professionals to manage their website, e-mail marketing, blog, appointments, and payments all in one spot! Our mission is to take care of the tech so you can focus more time on what you do best. Find out more at OfferingTree.com or drop us a note: firstname.lastname@example.org.